concentrated portfolio
also referred to as: concentrated portfolios
5 statements across 5 episodes · 2 bullish · 0 bearish · 5 people on the record · first statement Jun 12, 2017 by Larry Kochard · across every show →
Everything said about concentrated portfolio, oldest first
Jun 12, 2017 neutral
Kochard: Manager underperformance is usually driven by operational or behavioral issues
“There's usually a correlation between bad performance And something else going awry. And so that's where it becomes a little more difficult in practice. There could be a situation where just bad luck that that concentrated portfolio produces a sort of an outli…”
Oct 21, 2019 positive
Feb 3, 2020 positive
Nov 23, 2020 neutral
Greenblatt: Concentrated portfolios face 20% to 30% drawdowns every couple years
“When you run such a concentrated portfolio, every couple of years, there are a few days where you lose 20 or 30% of your assets because one or two of your ideas aren't going your way. And that's just part of the way it works.”
Jul 6, 2026
Dorsey: Concentrated Portfolios Cannot Tolerate Left-Tail Risks of Unpredictable Managers
“Especially in a concentrated portfolio, we have to think about that left tail risk differently than if we ran 50 stocks. If you run 50 stocks, okay, fine. I'll take a three percent bet on somebody who might be the most amazing manager of all time, but there's …”